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Pension Schemes Act 2021

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Changes over time for: Cross Heading: Pensions Act 1995 (c. 26)

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Changes to legislation:

There are currently no known outstanding effects for the Pension Schemes Act 2021, Cross Heading: Pensions Act 1995 (c. 26). Help about Changes to Legislation

Pensions Act 1995 (c. 26)E+W+S

6E+W+SThe Pensions Act 1995 is amended as follows.

Commencement Information

I1Sch. 3 para. 6 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I2Sch. 3 para. 6 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)

7E+W+SIn section 51 (annual increase in rate of pension), after subsection (1) insert—

(1A)Where a pension scheme is divided into sections, each section that is a collective money purchase scheme for the purposes of Part 1 of the Pension Schemes Act 2021 (see section 1(2)(b) of that Act) is to be treated for the purposes of this section as a separate occupational pension scheme which is a money purchase scheme.

Commencement Information

I3Sch. 3 para. 7 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I4Sch. 3 para. 7 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)

8E+W+SIn section 75 (deficiencies in the assets of certain occupational pension schemes), after subsection (1) insert—

(1A)Where a pension scheme is divided into sections, each section that is a collective money purchase scheme for the purposes of Part 1 of the Pension Schemes Act 2021 (see section 1(2)(b) of that Act) is to be treated for the purposes of this section as a separate occupational pension scheme which is a money purchase scheme.

Commencement Information

I5Sch. 3 para. 8 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I6Sch. 3 para. 8 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)

9E+W+SIn section 87 (schedules of payments to money purchase schemes), after subsection (1) insert—

(1A)Where a pension scheme is divided into sections, each section that is a collective money purchase scheme for the purposes of Part 1 of the Pension Schemes Act 2021 (see section 1(2)(b) of that Act) is to be treated for the purposes of this section and section 88 as an occupational pension scheme which is a money purchase scheme.

Commencement Information

I7Sch. 3 para. 9 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I8Sch. 3 para. 9 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)

10E+W+SIn section 89 (application of further provisions to money purchase schemes), at the end insert—

(3)Where a pension scheme is divided into sections, each section that is a collective money purchase scheme for the purposes of Part 1 of the Pension Schemes Act 2021 (see section 1(2)(b) of that Act) is to be treated for the purposes of this section as a separate money purchase scheme.

Commencement Information

I9Sch. 3 para. 10 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I10Sch. 3 para. 10 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)

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